business

Whiplash: All at once, a steady U.S. economy screeches to halt

12 Comments
By PAUL WISEMAN, ALEXANDRA OLSON and JOYCE M. ROSENBERG

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12 Comments
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Those 1000 dollar checks had better arrive soon...

2 ( +3 / -1 )

More damning evidence of trump's absolute mishandling of this entire coronavirus pandemic. His administration eliminated a critical CDC position in China that would have directly been the eyes and ears of what was going on in Wuhan, and would most definitely have warned Americans of the threat involved. Trump supporters continue to be blindsided by revelation after revelation of the magnitude of gross negligence involved. And now, millions of Americans will be unemployed, many job's will be eliminated, and the economy has tanked.

Vote in November!

https://www.reuters.com/article/us-health-coronavirus-china-cdc-exclusiv/exclusive-u-s-axed-cdc-expert-job-in-china-months-before-virus-outbreak-idUSKBN21910S

4 ( +6 / -2 )

Many in the mainstream media are still downplaying this, like they did from the start.

Do they really expect 14 million new cars to be sold in the US this year?

Just mention the D word and get it over with. We are not that stupid.

Unless, this article is some kind of early April Fools joke. Then, I get it.

2 ( +2 / -0 )

The republicans can't agree on the stimulus package. Unusually, Trump and the democrats want to help the individuals who are suffering from the loss of employment from the pandemic while the republicans want more of the help to go to business and corporations.

So while millions of people are trying to deal with financial crisis the republicans want to continue to argue about it and will effect the markets when they open on Monday if they don't agree to the $1 trillion package.

1 ( +2 / -1 )

The republicans can't agree on the stimulus package. Unusually, Trump and the democrats want to help the individuals who are suffering from the loss of employment from the pandemic while the republicans want more of the help to go to business and corporations.

Well, if the businesses go under how will logistics work how will the flow of food and aid distribution continue? Of course the Republicans want to help and I’m sure the Democrats as well, but they put a fork in this. They can’t just add on whatever please them and whatever they think should go in because they want it. If this all is not done and executed properly then the very people that make sure this all goes through efficiently will be out of business and then we are all royally screwed.

So while millions of people are trying to deal with financial crisis the republicans want to continue to argue about it

They have no choice, they have to put their emotions aside in order to keep this country going.

-4 ( +0 / -4 )

Businesses are sitting on piles of cash from their tax breaks, so they won’t go under.

4 ( +4 / -0 )

Many big business companies do not need any aid like Apple, Google, Amazon, they can all drive out the virus storm. The top 500 Fortune Companies.

Small businesses need aid and loans to survive. The republicans want to pump $500 billion into business. Copy the British model and suspend all business tax for the next 12 months.

The people without income need immediate aid with real cash money. Millions of people suddenly find themselves without work.

Suspend all mortgage payments for three months, Stop rental evictions.

Give sick pay to those who don't have it.

The current package is nearer $2 trillion.

Interesting comment from Trump said his business is taking a hit from the virus and the closure of his clubs. He might apply for some of the aid.

2 ( +2 / -0 )

Goldman Sachs expects the economy to shrink at a sickening 24% annual rate in the April-June quarter.

I just did some math: that 24% annualized decline is if the current quarter's trends continue for a whole year. Looking at this coming quarter alone, the prediction is a 6.66% shrinkage of the economy. Devilish!

-2 ( +0 / -2 )

This is a major correction and a wake up call about consumerism. Do people really need to mss consume?

I worry about the homeless in America in particular, and those that will join them after eviction notices.

I don't thinks evictions are easy to do in Japan.

2 ( +2 / -0 )

@Tom: I worry about the homeless in America in particular, and those that will join them after eviction notices.

This is an excellent point and highlights the disgraceful apathy in California to a chronic homelessness problem. These individuals are not only at high risk of contracting coronavirus due to living conditions, but they also are homeless and without medical care in many cases.

-1 ( +0 / -1 )

revelation after revelation of the magnitude of gross negligence involved.

So what were the rest of the Western countries doing? Last I checked the economies of Europe, Australia, New Zealand, and Canada are imploding as well. Would you also say all of their leaders exhibited 'gross negligence', or is it perhaps that you're allowing your anti-Trump bias to cloud your views.

0 ( +0 / -0 )

A week's warning of impending disaster is a luxury. The Mexican dinosaurs had about 10 seconds, and that was only if they were looking upwards at the time.

0 ( +0 / -0 )

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